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Economy

Market Capitalisation Closes at N12.9trn after 0.45% w-o-w Rise

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NSE market capitalisation stock value

By Modupe Gbadeyanka

It was a brief trading week as the federal government declared Tuesday, August 21 and Wednesday, August 22, 2018 as public holidays in commemoration of the Eid-eI-Kabir.

During the three-day trading week, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and market capitalization appreciated by 0.45 percent to close the week at 35,426.17 points and N12.933 trillion respectively.

However, all other indices finished lower with the exception of the NSE Premium, NSE Insurance, NSE Lotus II and NSE Industrial Goods indices that rose by 3.15 percent, 0.78 percent, 1.10 percent and 1.96 percent respectively, while NSE ASeM Index closed flat.

During the week, 15 equities appreciated in price, lower than 16 in the previous week, while 45 equities depreciated in price, lower than 56 equities of the previous week, and 109 equities remained unchanged higher than 97 equities recorded in the preceding week.

Business Post reports that a total turnover of 968.947 million shares worth N10.246 billion in 9,654 deals were traded this week by investors on the floor of the NSE in contrast to a total of 1.147 billion shares valued at N12.546 billion that exchanged hands last week in 16,649 deals.

The Financial Services industry, measured by volume, led the activity chart with 874.023 million shares valued at N7.671 billion traded in 6,029 deals; thus contributing 90.20 percent and 74.87 percent to the total equity turnover volume and value respectively.

The Consumer Goods sector followed with 26.818 million shares worth N1.624 billion in 1,476 deals, while the third place was occupied by Oil and Gas industry with a turnover of 24.795 million shares worth N91.439 million in 752 deals.

Trading in the top three equities; United Bank for Africa, NEM Insurance and Zenith Bank, measured by volume, accounted for 503.965 million shares worth N4.629 billion in 1,992 deals, contributing 52.01 percent and 45.17 percent to the total equity turnover volume and value respectively.

Also traded  during the week were a total of 9,205 units of Exchange Traded Products (ETPs) valued at N201,119.15 executed in 4 deals, compared with a total of 1,793 units valued at N282,571.59 that was transacted last week in 9 deals.

A total of 152,741 units of Federal Government Bond valued at N179.381 million were traded this week in 13 deals compared with a total of 2,647 units valued at N2.725 million transacted last week in 17 deals.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Economy

Customs Street Suffers First Loss in Nine Straight Sessions

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Lagos Customs Street stock exchange

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited recorded its first loss in nine consecutive sessions after it finished in the red territory on Friday by 0.12 per cent.

This decline suffered by Customs Street was caused by profit-taking in the industrial goods sectors, which tumbled by 0.31 per cent at the close of trading activities.

It upturned the gains recorded by the other sectors, as the banking space grew by 1.66 per cent, the insurance counter expanded by 1.05 per cent, the consumer goods index appreciated by 1.03 per cent, and the energy sector gained 0.31 per cent.

When the market ended for the day, the All-Share Index (ASI) decreased by 118.93 points to 101,129.09 points from 101,248.02 points and the market capitalisation shrank by N72 billion to N61.303 trillion from N61.375 trillion it ended a day earlier.

Despite the poor performance, investor sentiment was bullish as the bourse finished with 39 price gainers and 15 price losers, representing a positive market breadth index.

Multiverse lost 9.80 per cent to trade at N4.60, Aradel Holdings tumbled by 9.09 per cent to N664.00, International Energy Insurance slumped by 8.13 per cent to N1.47, Coronation Insurance declined by 4.49 per cent to N1.70, and Nigerian Breweries moderated by 3.33 per cent to N29.00.

On the flip side, UAC Nigeria gained 10.00 per cent to close at N30.25, Honeywell Flour also increased by 10.00 per cent to N6.05, Universal Insurance jumped by 10.00 per cent to 44 Kobo, Learn Africa rose by 9.92 per cent to N3.88, and NAHCO improved by 9.89 per cent to N46.10.

During the session, investors transacted 515.6 million shares valued at N16.5 billion in 11,554 deals compared with the previous day’s 411.4 million shares worth N26.3 billion traded in 10,260 deals a day earlier, indicating a decline in the trading value by 37.26 per cent, and growth in the trading volume and number of deals by 25.33 per cent and 12.61 per cent, respectively.

Zenith Bank was the most traded stock for the session with 60.4 million units valued at N2.7 billion, UBA exchanged 43.5 million units worth N1.5 billion, Sterling Holdings sold 43.3 million units for N216.3 million, Universal Insurance transacted 28.3 million units valued at N12.4 million, and GTCO traded 23.5 million units worth N1.3 billion.

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Economy

Okitipupa, FrieslandCampina Buoy NASD OTC Market by 0.87%

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NASD OTC securities exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange grew by 0.87 per cent on Friday, December 20, spurred by Okitipupa Plc and FrieslandCampina Wamco Nigeria Plc.

During the session, the market capitalisation of the trading platform added N8.98 billion to settle at N1.043 trillion compared with the preceding day’s value of N1.034 trillion and the NASD Unlisted Security Index (NSI) ended the day at 3,043.27 points after adding 26.20 points to the previous day’s closing value of 3,017.07 points.

Yesterday, the price of Okitipupa Plc went up by N2.98 to close at N32.72 per unit compared with Thursday’s closing price of N29.74 per unit and FrieslandCampina Wamco Nigeria Plc increased by N3.84 to wrap the session at N43.84 per share versus the preceding day’s N40.00 per share.

Business Post reports that the volume of securities traded at the bourse by investors on the last trading day of the week went up by 182.1 per cent to 1.2 million units from the 419,682 units recorded a day earlier.

In the same vein, the value of shares traded yesterday increased by 2,089.4 per cent to N51.2 million from the N2.3 million achieved in the preceding session, and the number of deals went down by 45.5 per cent to 12 deals from the 22 deals carried out in the previous session.

At the close of business, Geo-Fluids Plc remained the most active stock by volume (year-to-date) with a turnover of 1.7 billion units valued at N3.9 billion, Okitipupa Plc occupied the second spot with 752.3 million units sold for N7.8 billion, and Afriland Properties Plc was in the third position with the sale of 297.7 million units worth N5.3 million.

Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with the sale of 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.3 million units valued at N7.8 billion, and Afriland Properties Plc was in third with 297.7 million units sold for N5.3 million.

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Economy

Naira Falls as CBN Allows BDCs Access to FX Purchase from Official Market

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Naira to Dollar Exchange rate

By Adedapo Adesanya

The Naira suffered a marginal decline against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 20 by 0.02 per cent or 30 Kobo to settle at N1,541.68/$1, in contrast to Thursday’s closing price of N1,541.38/$1.

This marginal slide came as the Central Bank of Nigeria (CBN) moved to alleviate some pressure by allowing Bureaux de Change (BDC) operators to access the official market for a period of 50 days.

The CBN in a notice on Friday said BDC operators would have access to FX at the official market from December 19, 2024, to January 30, 2025, with a weekly cap of $25,000, with transactions requiring upfront funding at prevailing rates and must follow a maximum of 1 per cent spread.

This development trails the launch of the CBN-backed Electronic Foreign Exchange Matching System (EFEMS) which began operations earlier this month and has led to a rebound in the value of the Naira across markets.

The system is expected to instantly reflect data on all FX transactions conducted in the interbank market and approved by the CBN, giving traders real-time prices and buy-sell orders data.

But against the British Pound Sterling, the domestic currency appreciated yesterday by N6.46 to trade at N1,929.77/£1 compared with the previous day’s N1,936.23/£1 and against the Euro, the Nigerian currency depreciated by N60.21 to quote at N1,597.64/€1 versus N1,537.43/€1.

In the parallel market, the Naira maintained stability against the greenback during the trading session at N1,650/$1.

As for the cryptocurrency market, it was bullish on Friday after a hawkish tone in this week’s FOMC meeting flipped market sentiment ahead of the new year.

The positive outcome came as inflation slowed in the US and offered respite to the market, with Cardano (ADA) growing by 9.3 per cent to trade at $0.9825, as Dogecoin (DOGE) grew by 8.2 per cent to sell at $0.3463, and Ethereum (ETH) gained 4.1 per cent to settle at $3,535.49.

Further, Litecoin (LTC) increased by 3.9 per cent to $104.94, Solana (SOL) jumped by 3.3 per cent to $199.76, Binance Coin (BNB) soared by 2.2 per cent to $690.84, Ripple (XRP) surged by 1.9 per cent to $2.36, and Bitcoin (BTC) advanced by 0.6 per cent to $98,654.80, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.

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